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Fly News Breaks for May 24, 2019
MNK
May 24, 2019 | 06:43 EDT
JPMorgan analyst Chris Schott lowered his price target for Mallinckrodt to $11 from $22 to reflect Acthar's Medicaid risk. Following the disclosure of the dispute between Centers for Medicare and Medicaid Services and Mallinckrodt around Medicaid rebates for Acthar, the analyst removed Acthar Medicaid revenues from his model. He keeps a Neutral rating on Mallinckrodt shares.
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